Media Report Alleging Plans To Convert $30b Deposits In Domiciliary Accounts To Naira ’Untrue’-CBN

The Central Bank of Nigeria, CBN,  has described as untrue a media report alleging plans to convert $30 billion deposits in domiciliary accounts in the country to naira.

Team@orientactualmags.com learned that the nation’s apex bank  said this in a statement signed by its Acting spokesperson, Sidi Ali, on Saturday.

The statement noted that the bank is working hard to stabilize the foreign exchange market as shown through its recent work and policy directions.

CBN has also  assured Nigerians that efforts are ongoing to gain their confidence  and would therefore not do anything contrary to this.

‘We want to assure the general public that CBN is working to build confidence and would never do anything to undermine the currency and the economy’ the statement submitted while adding   that it is the only designated authority for monetary policy changes and will always advise on any policy change(s) before they are brought into operation.

‘The CBN is always open to answer questions about our policies’ the statement noted.

CBN was reacting to a media  report that it was considering a policy that will convert the foreign currencies of Nigerians in domiciliary accounts to naira on order to stabilize and increase liquidity in the forex market-Team@orientactualmags.com
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